Company v/s Firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 March 2010 Dear Friends,

What is the benefit of forming of Pvt. Ltd.Company against the Partnership Firm. Why people go for forming a Pvt.Ltd.Company.

Also why Firm convert into Pvt. Ltd.Company, is there any specific reason.

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18 March 2010 Main difference is that in case of a limited concern the liability is limited to the share capital subscribed while in case of a firm the liability of the partners is unlimited.

Because of this the cocept of Limited Liabilty Partnership(LLP) has been introduced.

18 March 2010 another point is legal compliance is very high compare to firm in the case of company.

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 March 2010 my main question is that what is the benefit(advantages & disadvantages) of forming of pvt.ltd.company against the firm.

Either partnership firm converted into limited company why?

I am seen many partnership firm converted into limited company why & what is the reason behind that? why they dont keep their firm as it is?

pls clarify the doubt i have many question abt this particular query.






18 March 2010 the reasons are depends on case to case,
mainly this are-
1. members limited liability,
2. separate Legal Entity,
3. Perpetual succession,
4. separate property,
5. Transferable shares,
6. Capacity to sue and being sued

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 March 2010 sir is there any note on particular of my query.

i need the list of advantages, disadvantages of forming of partnership firm, ltd company & llp.

distinguish between partnership firm, ltd company & llp.

pls guide from where, all this things i will got the material.

19 March 2010 FOR BETTER UNDERSTANDING YOU REFER BOOKS LIKE CO. ACT, FORMING & MANAGEMENT OF A PVT. CO. ETC.

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 March 2010 pls. give me perfect book name along with author name.

also tell me which book is better for refer & easiest to understandable.


19 March 2010 FOR THIS I REFER BOOK - "FORMING & MANAGEMENT OF A PVT. CO. ALONG WITH PROCEDURE", BOOK OF A NABHI PUBLICATION OR REFER OTHER BOOK LIKE THIS

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 March 2010 can i get all my qestion of answer in this book?

what about the partnership firm & llp.

19 March 2010 now i don't have any books reference who provide compression of all three act in one place call your book seller or depot for the same he guide better


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